Audit in the Isle of Man

Whether a company in the Isle of Man needs an audit depends on its type, its size and who it reports to. Some companies are audited because a regulator, a lender, an investor or a parent company asks for it, rather than because the law requires it. Confirm the requirement with a firm early, because it affects how records are kept through the year.

An auditor must be independent of the people who prepared the accounts, so ask whether the firm audits itself or uses a separate practice. Ask which standards it applies, how long fieldwork takes, whether it can report to a parent company abroad, and what experience it has with your sector or structure, such as funds, aviation assets or holding companies.

Accountanty lists 8 firms that offer audit in the Isle of Man: 7 accounting firms and 1 corporate services provider. 4 are large networks, 3 small and 1 medium. 7 work in English, and 4 serve foreign clients. Aviation, start-ups, gaming and pensions (2 firms each) are among the industries named. It is the smallest group of the island’s service pages, so compare early. See accounting and the Isle of Man guide.